08:21 AM EST, 12/17/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.3% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.2% in Tuesday's premarket activity, as the Federal Reserve's two-day policy meeting kicks off later in the day.

US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.4%, and Nasdaq futures losing 0.2% before the start of regular trading.

The November US national retail sales bulletin will be released at 8:30 am ET, followed by the November industrial production bulletin at 9:15 am ET.

The business inventories report for October and the housing market index for December will be released at 10 am ET.

In premarket activity, bitcoin was up by 1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.1% higher.

Power Play:

Energy

The iShares US Energy ETF ( IYE ) was down 0.1%, while the Energy Select Sector SPDR Fund ( XLE ) was down by 0.2%.

Kosmos Energy ( KOS ) stock was up more than 17% before Tuesday's opening bell after the company said it does not currently plan to make a firm offer to acquire Tullow Oil.

Winners and Losers:

Health Care

The Health Care Select Sector SPDR Fund ( XLV ) retreated 0.1%, the Vanguard Health Care Index Fund ( VHT ) was down 0.1% while the iShares US Healthcare ETF ( IYH ) was flat. The iShares Biotechnology ETF (IBB) was inactive.

Pfizer ( PFE ) stock was up 3% premarket after the company reaffirmed its 2024 guidance and issued 2025 adjusted EPS and revenue guidance in line with analyst expectations.

Consumer

The Consumer Staples Select Sector SPDR Fund ( XLP ) was flat, while the Vanguard Consumer Staples Fund (VDC) was down 0.1%. The iShares US Consumer Staples ETF ( IYK ) was inactive, and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) lost 0.3%. The VanEck Retail ETF ( RTH ) was inactive, while the SPDR S&P Retail ETF ( XRT ) was inactive.

Tesla (TSLA) shares were up 2.8% pre-bell after Wedbush Securities described Tesla's autonomous driving and artificial intelligence initiatives as potential "game changers" for the company and Chief Executive Elon Musk.

Industrial

Industrial Select Sector SPDR Fund ( XLI ) slipped 0.2%, the Vanguard Industrials Index Fund ( VIS ) was flat, while the iShares US Industrials ETF ( IYJ ) was inactive.

ATS (ATS) stock was down 2.2% before the opening bell, adding to the previous day's losses after the company said late Monday it upsized a private offering of 6.5% senior unsecured notes due 2032 to CA$200 million ($140 million) from the initial target size of CA$150 million.

Financial

Financial Select Sector SPDR Fund (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares ( FAS ) was down 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.8% higher.

EPAM Systems ( EPAM ) shares were up 1.7% pre-bell Tuesday after Barclays upgraded the company to overweight from equal weight and raised its price target to $290 from $250.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 0.5%, and the iShares US Technology ETF ( IYW ) was 0.5% lower, while the iShares Expanded Tech Sector ETF ( IGM ) was up 0.1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF ( XSD ) retreated 1.4%, while the iShares Semiconductor ETF (SOXX) slipped 0.5%.

CGI (GIB) shares were up 1.2% in recent Tuesday premarket activity after the company signed a 25-year deal with military pilot and aircrew training company SkyAlyne.

Commodities

Front-month US West Texas Intermediate crude oil retreated 1.1% to $69.95 per barrel on the New York Mercantile Exchange. Natural gas gained 0.5% to reach $3.23 per 1 million British Thermal Units. United States Oil Fund ( USO ) lost 0.9%, while the United States Natural Gas Fund ( UNG ) was 0.4% lower.

Gold futures for February declined 0.4% to $2,659.90 an ounce on the Comex, while silver futures fell nearly 1% to $30.76 an ounce. SPDR Gold Shares ( GLD ) lost 0.3%, while the iShares Silver Trust ( SLV ) was down by 0.7%.